6. Partners Barry and Paul each have $3,000 capital balances and share income/losses in a 2: 1 ratio, respectively. Cash equals $1,000, non-cash assets are $10,000, and liabilities are $5,000. If all the non-cash assets are sold for $5,500, and each partner agrees to make up any capital deficits with personal cash contributions, Paul eventually will receive cash of $0 $1,000 $1,500 $2,000 d. e. none of the above are correct. 7. Tammy invests $8,000 for a one-fourth interest in a partnership in which the other partners have capital totaling $16,000 before admitting Tammy. After distribution of the bonus, Tammy's capital is: $4,000 $6,000 $8,000 b. C. d. $10,000 e. none of the above are correct 8. Becky and Sally are partners who share profits and losses in the ratio of 4:6. Their capital balances are $25,000 and $10,000, respectively. If Joan is admitted to the partnership for $15,000 for a one-fourth interest, her capital balance will be: a. b. $15,000 $25,000 $12,500 $16,667 e. none of the above are correct. 9. Mona, Bitty and Stephanie are partners who share income and losses in a 1:1:1 ratio. The partnership made income of $100,000. The initial capital balances are: Mona $,4,000; Bitty $6,000; Stephanie $10,000. If Mona receives a salary allowance of $20,000, and each partner receives an amount equal to 10% of their initial capital balances with any remaining amount shared equally, what is the ending amount in Bitty's capital account after the allocation of income? a. none of the answers below are correct b. C. d. $37,000 e. $36,000 $50,400 $32,600 10. Steven and Kelly are partners who share profits and losses in the ratio of 6:4. They have capital balances of $25,000 and $10,000, respectively. If George invests $15,000 for one-third interest, to the nearest dollar George's capital balance will be: a. b. $17,333 $45,000 $26,667 $16,667 e. none of the above are correct